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Purchase Home $78,559.20 - Total 5-year Cost: $30,000.00 + 5 × 12 × $809.32 Total 10-year cost: $30,000.00 + 10 × 12 × $809.32= $127,118.40 Total 15 year cost: $30,000.00 + 15 × 12 × $809.32 $175,677.60 Rent Home Total 5-year cost: (4 x 12 x $900) + (1 × 12 × $975) Total 10-year cost: (4 × 12 x $900) + (4 × 12 × $975) + (2 × 12 x $1050) = $115,200 Total 15-year.cost: (4 × 12 × $900) + (1 x 12 x $975) $54,900 (4 × 12 × $1050) + (3 × 12 $1 25) = $180,1900 Recall the pros and cons of buying a house and which conditions make it better to to purchase a home. Also, think about the pros and cons of renting a house and which conditions make it better to rent. Use this information along with the total.costs you found to answer the following prompts. Make sure to write your answer in complete sentences. Does renting or purchasing makes the most sense for the Bainters if they live in the house 1 year?-5 years? 10 years? 15 years? For each interval, explain why you think the Bainters should rent or purchase a home. Use mathematical. evidence to support your conclusions..

Purchase Home $78,559.20 - Total 5-year Cost: $30,000.00 + 5 × 12 × $809.32 Total 10-year cost: $30,000.00 + 10 × 12 × $809.32= $127,118.40 Total 15 year cost: $30,000.00 + 15 × 12 × $809.32 $175,677.60 Rent Home Total 5-year cost: (4 x 12 x $900) + (1 × 12 × $975) Total 10-year cost: (4 × 12 x $900) + (4 × 12 × $975) + (2 × 12 x $1050) = $115,200 Total 15-year.cost: (4 × 12 × $900) + (1 x 12 x $975) $54,900 (4 × 12 × $1050) + (3 × 12 $1 25) = $180,1900 Recall the pros and cons of buying a house and which conditions make it better to to purchase a home. Also, think about the pros and cons of renting a house and which conditions make it better to rent. Use this information along with the total.costs you found to answer the following prompts. Make sure to write your answer in complete sentences. Does renting or purchasing makes the most sense for the Bainters if they live in the house 1 year?-5 years? 10 years? 15 years? For each interval, explain why you think the Bainters should rent or purchase a home. Use mathematical. evidence to support your conclusions..

Algebra and Trigonometry (6th Edition)
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Hello this is for a financial mathematics class
Purchase Home - Total 5-year cost: $30,000.00 + 5 × 12 × $809.32 = $78,559.20 Total 10-year cost: $30,000.00+ 10 x 12 × $809.32 Total 15 year cost: $30,000.00 + 15 × 12 × $809.32 $127,118.40 $175,677.60 Rent Home Total 5-year cost: (4 x 12 x $900) + (1 × 12x $975) - Total 10-year Cost: (4 × 12 × $900) + (4 × 12 × $975) + (2 x 12 × $1050) = $115,200 $54,900 Total 15-year cost: (4 × 12 × $900) + (4 × 12 × $975) + (4 × 12 × $1050) + (3 x 12 × $1l 25) = $180,1900 Recall the pros and cons of buying a house and which conditions make it better to to purchase a home. Also, think about the pros and cons of renting a house and which conditions make it better to rent. Use this information along with the total costs you found to answer the following prompts. Make sure to write your answer in complete sentences. • Does renting or purchasing makes the most sense for the Bainters if they live in the house 1 year? 5 years? 10 years? 15 years? For each interval, explain why you think the Bainters should rent or purchase a home. Use mathematical evidence to support your conclusions. Normal e BIUS Drevious MOVIES HD+ acer
Transcribed Image Text:Purchase Home - Total 5-year cost: $30,000.00 + 5 × 12 × $809.32 = $78,559.20 Total 10-year cost: $30,000.00+ 10 x 12 × $809.32 Total 15 year cost: $30,000.00 + 15 × 12 × $809.32 $127,118.40 $175,677.60 Rent Home Total 5-year cost: (4 x 12 x $900) + (1 × 12x $975) - Total 10-year Cost: (4 × 12 × $900) + (4 × 12 × $975) + (2 x 12 × $1050) = $115,200 $54,900 Total 15-year cost: (4 × 12 × $900) + (4 × 12 × $975) + (4 × 12 × $1050) + (3 x 12 × $1l 25) = $180,1900 Recall the pros and cons of buying a house and which conditions make it better to to purchase a home. Also, think about the pros and cons of renting a house and which conditions make it better to rent. Use this information along with the total costs you found to answer the following prompts. Make sure to write your answer in complete sentences. • Does renting or purchasing makes the most sense for the Bainters if they live in the house 1 year? 5 years? 10 years? 15 years? For each interval, explain why you think the Bainters should rent or purchase a home. Use mathematical evidence to support your conclusions. Normal e BIUS Drevious MOVIES HD+ acer
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